Business News

Rohan Mirchandani, 42, founder of Drums Food International, the parent company of yoghurt brand Epigamia, passed away on December 21 due to a cardiac arrest, the company said in an official statement.Mirchandani had stepped down as chief executive of the company in July 2023, handing over the reins to cofounder Rahul Jain. However, following Jain's departure later in July this year, Mirchandani resumed as the CEO of the Mumbai-based brand.The day-to-day operations of Epigamia are currently managed by its senior leadership, including Ankur Goel, chief operating officer and founding member, and Uday Thakker, cofounder and director. They are supported by the board of directors and key investors Verlinvest and DSG Consumer Partners, the company said in a statement.“All of us at the Epigamia family will deeply mourn this loss. Rohan was our mentor, friend, and leader. We remain steadfast in our determination to carry forward his dream with strength and vigour. Rohan's vision and values will continue to guide us as we work together to honour the foundation he built and ensure that his dream continues to flourish," Goel and Thakker said in the joint statement released on Sunday.Mirchandani held an MBA from The Wharton School in the US.His untimely demise comes as another blow to India's startup ecosystem, which has recently lost prominent leaders. Rohan Malhotra, cofounder and managing partner of early-stage venture capital firm Good Capital, passed away on October 1, while Ambareesh Murty, co-founder of furniture retailer Pepperfry, died of a cardiac arrest in Leh in August 2023.Founded in 2007, Epigamia sells a range of products, including yoghurt, milkshakes, almond drinks, smoothies, and cheese. The company reported an operating revenue of Rs 172 crore and a net loss of Rs 67 crore for the fiscal year ending March 2023, according to data platform Tracxn.